Chinese property giant Evergrande has a huge debt problem – here’s why you should care

Chinese real estate behemoth Evergrande faced its biggest crisis yet in September 2021, spooking markets and prompting comparisons to the collapse of U.S. investment bank Lehman Brothers in 2008. Since the company’s founding in 1996 by Hui Ka Yan, it has since accumulated more than $300 billion in debt, making it the world’s most indebted developer. “As Evergrande teeters on the edge of default, the collapse would have grave consequences for hundreds of thousands of property buyers and retail customers,” said CNBC Senior Correspondent Emily Tan. #Evergrande #EvergrandeGroup Content: 00:00 Intro 01:14 Background of Evergrande 01:57 Evergrande's huge debt 02:43 People's Bank of China (PBOC)'s three red-lines & rationale 04:16 Domino effect of the Evergrande crisis 06:03 Is this China's 'Lehman moment'? 06:32 Will there be a bailout? 08:27 Biggest takeaway ----- Subscribe to us on YouTube: Subscribe to CNBC International TV on YouTube: Like our Facebook page: Follow us on Instagram: Follow us on Twitter:
Thu, 30 Sep 2021 11:00:02 GMT
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